COVID Life and the Asset Economy

28 Mai , 2020  

Lisa Adkins and Martijn Konings

Following the 2007/08 financial crisis the creation of a less unequal and fairer world appeared to be a major prospect. As is by now all too familiar, after the financial crisis, instead of becoming more progressive, societies turned out to be more unequal, with inequalities ...

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What Black-Scholes-Merton means to a speculative materialist

25 Mai , 2020  

Even those persons paralyzed by anxiety over their lack of knowledge of financial economics will intuitively grasp that uncertainty pervades an attempt to ascertain what will have been the value of an asset in the future, relative to its subsequent past value now in the present. Can this even be done? ...

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Value, Fictitious Capital and Finance. The Timeless of Karl Marx’s Capital

2 Apr , 2020  

Karl Marx is not a proponent of classical value theory as labour expended. Marx developed in Capital and his other mature economic writings a monetary theory of value and capital.2 He analysed value as an expression of relations exclusively characteristic of the capitalist mode of production. Value registers the rela-tionship ...

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The financial crisis in 2008 took place.

19 Feb , 2020  

When Jean Baudrillard announced that the year 2000 would not take place, one had to suspect evil. It is no exaggeration to say that the financial crisis of 2008 was the only event of world historical significance in the new millennium (as is well known, according to Baudrillard, the Iraq ...

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EconoFiction, PhiloFiction

25 Theses at time (of capital)

23 Jan , 2020  

1) Economic quantities can be changed in time precisely because money, as a so-called transcendental signifier of capital, has the quality of a pure quantity, whereby money is released from current acts of exchange and thus, as a monetary sign, accounts for the time accumulated in the commodity, which in ...

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Bichler/Nitzans “Capital of Power”

22 Jan , 2020  

At first glance, it seems that Deleuze’s concept of structure involves a complex form of the so-called creorder, a term that appears at the forefront of the methodological findings of the economists Bichler/Nitzan. (Cf. Bichler/Nitzan 2009) If the structure is updated in each of its moments in processes, then Bichler/Nitzan ...

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Elie Ayaches and Suhail Malik’s heterodox concepts of finance: the frenzy of contingency

13 Jan , 2020  

The heterodox positions of Elie Ayache and Suhail Malik on contemporary finance are often perceived in the haze of accelerationism, although not widely discussed. Let us first turn to the prosition of Suhail Malik. For us, the contingent price movements of the underlying assets/underlyings and the likewise contingent derivative pricing ...

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The football syndrome: speculative business

7 Jan , 2020  

1) Soccer, porn and pop are the cultural industries of today.

2) Clubs, players and coaches are now highly speculative financial investments. The Neymar deal with a redemption of 222 million raises world football to a new dimension. One rather does not want to imagine the number nor can one ...

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Remarks on “How Noise Matters to Finance”

4 Dez , 2019  

In his book How Noise Matters to Finance, which is well worth reading, Knouf points first and foremost to traditional ideas about the stock market, such as the control of the market by the famous invisible hand, the dreams of balance, transparency, explainable price movements and correct prices, All in ...

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EconoFiction, Mashines

Money Robots

16 Okt , 2019  

Money robots are actually nothing more than complex algorithms that analyze and process data and are also able to learn from feedback and results. Former MEP Martin Ehrenhauser has published an informative book on this subject. The book “Die Geldroboter”, published by ProMedia-Verlag, deals with the function and effectiveness of ...

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Financial Capital Globalization as Capital Discipline and the Socialist Alternative

10 Okt , 2019  

John Milios National Technical University of Athens,

Dimitris P. Sotiropoulos The Open University Business School, UK,

1. Globalization, financialization, crisis

The current financial crisis of capitalism is without precedent in the post-war period. Regarding the crisis, recent heterodox literature is dominated by a single and persistent argument. The ...

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FX & Imperialism

8 Okt , 2019  

What affects the exchange rate of a country’s currency? The answer depends on where that country stands in the world economy. Not simply because an exchange rate is the value of one currency versus another, so that you must weigh up two or more countries. It is mainly because the ...

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